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Responding to my post this morning about gasoline prices, several people have asked why I didn’t say anything about the weakness of the dollar as a possible culprit. Answer: because the dollar isn’t especially weak right now, and in any case, the value of the dollar has only a slight effect on the global price of oil. Obviously a weak dollar makes all imports more expensive, so it does play a role in domestic prices, but as you can see from the chart below — where the dollar value is inverted and rescaled to show the relationship more clearly — the strength of the dollar has very little relationship to the price of oil. In 2007-08, the price of oil spiked from $60 to $140 while the dollar weakened only slightly. The recent spike began in November, while the dollar was strengthening. After that the dollar weakened a bit, then strengthened last month. It’s just not a big factor here.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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